Looking for information about your firm's panel status?
MBS Lending Ltd Solicitor Panel Assistance:
What are the MBS Lending Ltd conveyancing panel arrangements?
Unlike the CML the Building Society Mortgage Instructions deal with this. Section A.12 states ‘In order to act on our behalf your firm or company must be a member of our conveyancing panel provided we are a society that operates one – see specific requirements for details of our arrangements.
The Special Requirements state:
All conveyancers are subject to panel requirements and must be approved onto the MBS Lending's conveyancing panel. Please refer to the mortgage completions team if further information is required.
You must also comply with the terms and conditions of your MBS Lending Ltd solicitor panel appointment.
Is it possible that MBS Lending Ltd will appoint an alternative firm on the MBS Lending Ltd solicitor panel for a further advance during the mortgage term ?
The BSA Mortgage Instructions relevant to a solicitor on the MBS Lending Ltd conveyancing panel indicates that when a further advance is required for alterations or improvements to the property we will not normally instruct a member of the MBS Lending Ltd conveyancing panel but if you are instructed the appropriate provisions of the BSA mortgage instruction will need to be adhered to .
Do the Building Society Association intend to launch a search tool with a view to list practices on the MBS Lending Ltd conveyancing panel ?
We are not aware of any plans on the part of the BSA to promote such a register .
Does the fact that my firm has signed up to LENDERmonitor Alerts help in my application to join the MBS Lending Ltd solicitor panel?
The requirements to join the MBS Lending Ltd conveyancing panel is likely to be fairly detailed and is unlikely to include signing up to LENDERmonitor alerts.
Why has the Building Society Association introduced differing instructions from the CML?
The Building Society Association introduced it’s Mortgage Instructions in 2010 to ensure that licensed conveyancers or solicitors on a building society conveyancing panel had full access to a complete set of standardised mortgage instructions.
I have read a number of legal articles recently about firms being sued for non-compliance with BSA Mortgage Instructions. I am on the MBS Lending Ltd conveyancing panel. Can you tell me how many Specific Requirement changes took place by MBS Lending Ltd during 2013?
During this period 30 sections of the BSA Mortgage Instructions were changed by MBS Lending Ltd. Some changes are more important than others but as a firm on the MBS Lending Ltd conveyancing panel you are of course obliged to comply with individual lender requirements. Locktons have recently pointed out in an article that non-compliance with lender requirements account for a number of high value claims, and it is therefore important to be aware of any particularly onerous terms that an individual lender may impose.
Remember: BSA requirements are not guidelines; they are the lender client’s instructions.
I noticed the following question on my PI renewal form this year ‘Has your Firm been asked by a lender to agree to more onerous terms and conditions than provided for in the BSA Mortgage Instructions?’ My firm is on the majority of approved panels including the MBS Lending Ltd conveyancing panel. We have Terms and Conditions of appointment which we have to follow. Do I disclose these these Conditions?
The concern here is if you are expect to enter into ‘more onerous’ conditions that than the Handbook obligations.
You have to try and take an objective view as to whether the Terms relating to the MBS Lending Ltd conveyancing appointment (or other terms for other lenders) are ‘more onerous’ than the BSA Mortgage Instructions. Depending on the Terms you may need to provide details on your renewal form. If you are in any doubt please call your broker to discuss before completing the answer.
What lender panels do you receive the most questions about?
BSA lenders do not come within the top 20 lenders in terms of
frequency of questions. The most popular lender panels in terms of
questions are as follows:
Find a Lawyer on the MBS Lending Ltd Conveyancing Panel
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Average number of days to register title including a charge in favour of MBS Lending Ltd
This information relates to purchase only and not remortgages.
| Year | Days* |
|---|---|
| 2025 | [no data] |
| 2024 | [no data] |
| 2023 | [no data] |
| 2022 | [no data] |
| 2021 | [no data] |
| 2020 | [no data] |
* Data aggregated from sources including COMPLETIONmonitor
Other related topics:
- CQS policy templates and procedures for accredited MBS Lending Ltd Firms
- Draft Report on Title precedent for MBS Lending Ltd borrowers
- Draft Anti Money Laundering PolicyTemplate for MBS Lending Ltd panel firms to consider
- Dealing with Lender Policy Template panel for CQS accredited firms on the MBS Lending Ltd lender panel
- Buy-to-Let help for MBS Lending Ltd
- Consent-to-Let help for MBS Lending Ltd
- Contractor Mortgages with MBS Lending Ltd
